Post on 09-Feb-2017
transcript
5 BEST WAYSFOR I NVESTORSTO IMM IGRATETO CANADA
ANDY SEMOT IUK
WWW.MYWORKVISA.COM
Improving Your Life Through ImmigrationSince 1974
Andy@mywo rk v i s a . com
PROVINCE OFQUEBEC IMMIGRANTINVESTOR PROGRAM
Pro: Security of funds and low cost of passive involvement
Con: Intensive paperwork showing source and path of funds
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La belle province wants you (and your investment).
Invest about $600,000 ($800,000 Canadian) with the
government of the province of Quebec for five years, interest-
free.
In around 24 to 36 months, you obtain permanent residence
that entitles you and your immediate family to enter Canada.
The full amount is repaid to you from the government of
Quebec at the end of the five years.
PROVINCE OF QUEBECIMMIGRANT INVESTORPROGRAM
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This is a passive investment in which your money is used by
Quebec for economic development.
The catch here is that you must agree to live in the province of
Quebec, for example in Montreal or Quebec City. That said, the
Canadian Charter of Rights and Freedoms guarantees mobility
rights and therefore makes it possible for investors to
subsequently move elsewhere in Canada.
PROVINCE OF QUEBECIMMIGRANT INVESTORPROGRAM
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If the $750,000 sounds steep, you can obtain a loan from a
financial intermediary. In this way, investors can divest
themselves of the burden of investing the $750,000 for five
years. The cost of the loan is just under $205,000 ($220,000
Canadian).
There is no age or education requirement for this program,
but the investor and family members must be in reasonably
good health.
PROVINCE OF QUEBECIMMIGRANT INVESTORPROGRAM
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SECTION 205WORK VISA
Pro: Control of the money and self-sponsorship
Con: Risks associated with a start-up, active involvement
required
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This one involves running your own business.
The process entails incorporating your Canadian company,
registering with Revenue Canada, opening a Canadian bank
account for your company and depositing money into the
account for the company’s use.
You must develop a business plan that explains how your
investment will benefit Canadians, either economically,
socially or culturally.
SECTION 205WORK VISA
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Processing takes less than six months. After one year of
success in the business, you can apply under the Canadian
Experience Class for permanent residence.
This is also a good option to combine with a franchise
scenario, like a restaurant or hotel chain.
SECTION 205WORK VISA
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INTER -CORPORATETRANSFEREEWORK VISA
Pro: Cheap way to get permanent residence
Con: Requires support of a petitioning company
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If you are transferred from your company abroad to an
affiliated Canadian company to work as a manager, executive
or person with specialized knowledge, you may be later
entitled to obtain Canadian permanent residence.
Think of a Shell Oil manager coming to Canada to run a
subsidiary plant at the oil sands in Fort McMurray.
INTER-CORPORATETRANSFEREEWORK VISA
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A couple of conditions:
1. You must have worked for the affiliated company abroad for a
period of at least one year in the last three years.
2. Your job in Canada must be similar to the job you were
performing at home.
Assuming you qualify, you will get a work visa for up to four years.
Processing time for inter-corporate transferees is less than six
months. After one year, you can apply under the Canadian
Experience Class for permanent residence.
INTER-CORPORATETRANSFEREEWORK VISA
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PROVINCIALNOMINEEPROGRAMS (PNP )
Pro: Large variety to choose from, priority processing
Con: Constantly changing rules, tied to province of
investment, hands-on involvement
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PROVINCIAL NOMINEEPROGRAMS
Many provinces in Canada have their own business
immigration programs, known as Provincial Nominee
Programs (PNP). They work a little like the Section 205 Work
Visa. I’ll use the province of Prince Edward Island (PEI) as an
example.
PEI’s program requires you have a net worth of just under
$560,000 ($600,000 CAD), put up just over $185,000
($200,000 CAD) as a refundable security deposit, invest
around $185,000 ($200,000 CAD) in a business, have two years
of management experience in the last five years and meet
English language and minimum education requirements.
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PROVINCIAL NOMINEEPROGRAMS
To succeed under the program, you effectively must travel to
PEI to meet with provincial officials and satisfy them of your
willingness to invest and live in PEI. The refund of your security
deposit is based on those assurances.
If your proposed investment in a local company is approved,
you are issued a provincial nominee certificate that provides
you with priority immigration processing. This results in
permanent residence, which in most cases takes 12 to 24
months.
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PROVINCIAL NOMINEEPROGRAMS
Unlike the Section 205 and inter-corporate transferee options
above, PNP programs like the one in PEI skip work permits
and take the investor directly to permanent residence.
Other provinces that attract investors are BC, Manitoba and
Saskatchewan. Each of the programs are the same in spirit,
but their requirements may vary.
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QUEBECENTREPRENEURPROGRAM
Pro: Small investment in a business leading to permanent
residence
Con: Active management of a business in the province of
Quebec is required
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QUEBECENTREPRENEURPROGRAM
To be eligible for this program, you must:
- Have net assets of at least $280,000 (C$300,000).
- Have at least two years experience in running a business in
the last five years while controlling at least 25% of the capital
equity.
- Create or acquire at least 25% of the equity of a business in
Quebec by investing at least $94,000 ($100,000 Canadian).
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QUEBECENTREPRENEURPROGRAM
Assessment of the application will take into account factors
such as:
- your age
- the nature and duration of your training
- your language skills
- your personal qualities and your knowledge of Quebec
The steps taken to acquire a business in Quebec or your ability
to carry out a business project will be the key element in your
assessment.
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BENEFITS OF BECOMING ACANADIAN PERMANENT
RESIDENTCanada has the best educational systems in the world. Your children’s
tuition fee will be the same as a Canadian.
Publicly funded health system (Universal health care system)
Canada has the best overall quality of life in the world.
Canada is economically and politically stable with a peaceful
environment.
Clean environment with plenty of natural resources.
Gateway to North America Free Trade Agreement (NAFTA), providing
direct access to more than 400 million consumers.
Ove r t h e l a s t f o u r decade s a s animmig r a t i on a t t o r ne y Andy Semo t i u kha s he l ped o ve r 1 0 ,000 c l i e n t s w i thv a r i ou s l e g a l p rob l ems .
Andy Semo t i u k wo r k s w i th :
WWW .MYWORKV ISA .COM
ANDY J . SEMOT IUK I S A U .S . AND CANAD IAN IMM IGRAT ION LAWYER WITH
OFF ICES I N NEW YORK AND TORONTO . HE I S A PUBL I SHED AUTHOR ,
A FORMER UN CORRESPONDENT , AND A FORBES COLUMN IST WRIT ING
ABOUT IMM IGRAT ION .
LEARN MORE AT WWW .MYWORKV ISA .COM .
Investors, Executives, Professionals, and
Celebrities in the entertainment industry. Andy J. Semotiuk
Improving Your Life ThroughImmigration Since 1974